After much speculation, Google-owned Nest has officially acquired connected-camera company Dropcam.

The company announced the deal in a blog post today; it comes out to $555 million in cash, Re/code reported.

Dropcam will remain independent until the deal closes, and it will then proceed to integrate with Nest. From Nest founder and engineering head Matt Rogers? blog post:

Although this was a big decision for us, it wasn?t a difficult one to make. Before deciding to extend an offer to Dropcam, we spent a lot of time looking at camera companies and technologies around the world. And I can say without a doubt, Dropcam has the best products, services, and customer experience in the business.

 
Dropcam lets you check in on your home, no matter where you are in the world. But that?s not the only reason we?re excited about adding them to the Nest family. Our companies actually have a lot in common.

 
Dropcam built their company from the ground up with the goal of helping people stay connected to the things they care about. In a matter of a few short years, their team has managed to create products that change how people interact with their homes. So naturally, we couldn?t help but feel our companies would be a good match.

 
I think our customers will agree. Many of you already own Dropcam products and have asked if we could make them work with Nest. Today, we?re one step closer to making that happen.

 
Eventually, the plan is for us to work together to reinvent products that will help shape the future of the conscious home and bring our shared vision to more and more people around the world. For now though, not much will change. Dropcam products will still be sold online and in stores. And Dropcam customers will still continue to use their Dropcam accounts.

Once Dropcam becomes a Google company, it will be fascinating to see if the cloud-based infrastructure for Dropcam transfers over to Google?s public cloud, the Google Compute Engine.